With low exchange fees. Bitboy Okx … With an account at, you can quickly purchase crypto utilizing a card, checking account, or mobile wallet. It also uses incredibly high yields in many cases when taking part in staking or saving features.
was founded in 2017 and keeps a head office in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency might certify for discount rates.
One huge drawback of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, concealed expense details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check deal information before continuing. If you mistakenly send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security concerns you don’t generally confront with conventional banking platforms. The best practices for keeping your monetary accounts protected are comparable. These include using strong passwords unique to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for most consumer possessions. It also has offers extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted to purchase apecoin at this level put our stop loss down at this level significance that if we’re wrong and it continues moving down we’re offering our position which we want to take earnings at this level what we wish to do is find the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar amount risk we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Bitboy Okx
distinction in between the stop and the entry all right which’s going to offer us the quantity of tokens that we require to purchase in order to risk just 10 dollars okay if we’re just going in with 250 coins or a thousand coins we’re never going to be able to call in our risk benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity fine so that implies that in order to find the capital requirement or the quantity of money that we need for this trade we have to take the amount of coins and multiply it by the entry rate which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give us 587 dollars then we require to be able to enter this position when we’re using take advantage of the only thing it’s altering is how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have 10 thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account all right this 587 is currently 5x the size of our money value of our account which makes it impossible fine so let’s visit buy bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open our leverage fine and you’re gon na get this warning that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this leverage capability is altering nothing about the risk profile on the trade alright if you plan on trading anyways utilize the referral Link in the description okay every week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars per week we’re selecting three winners a week fine we’re attempting to give the fees that we’re gathering from the affiliate program back into the community for you guys trading with us connect is below you can check out our Discord where we reveal the winners alright prior to we hop into the trading system that you can use to start taking these trades I want to discuss the guidelines that I would suggest utilizing when growing a little account alright so the first guideline is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat fine each time you double the account so when you go to 100 up to 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there up until we scale our account up a bit larger the third thing and this is super crucial is everybody has a psychological limit when it concerns just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the math states you’re going to begin feeling a little bit psychological about the trades which’s something that you truly want to prevent up until you come comfy doing that okay so say you work your method up to 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can walk that back down to fifty dollars per trade choice that repaired quantity as soon as you want to preserve your capital and simply choose a goal each day on
the money that you want to make when you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make three that three to 5 thousand dollars weekly so I’m utilizing you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you know a couple years from now go up to a thousand shot to make 3 to five thousand per trade and try to double my earnings alright so let’s enter the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai okay however what I want to do is find an area where I have actually a newly established uptrend first thing that I wish to do is recognize my wave count okay so if this is our beginning
first pullback is 2 largest waves approximately three pullback is four and after that the high is 5 and the way we can try to find the top of 5 is by using a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and after that discover my element of one and you can see the rate action sort of Consolidated right along this level if we take a Fibonacci retracement off of this level and go up to the high of one if our price action boils down through